November 2016 homes sales in the Indian Land, South Carolina area of the Charlotte metro region experienced another excellent month, continuing the strong trends we've seen here this fall selling season.
The average sale price of Indian Land area (29707 zip code area) homes increased 6.2% to just over $297,000, while average days on market for property listings dropped by 5 days to 50 days in November, a 9.1% improvement over the same period last year. Median days on market also dropped by 7 days to 23 days compared with one year ago.
Price per square foot also increased by 7.0% to an average of $123/square foot during November 2016 versus the same period in 2015. Home buyers can no longer expect to find "bargains" in Indian Land, as the days when homes in Lancaster County versus adjacent York County were much less expensive are essentially gone and clearly gone for good.
Closed sales of homes in Indian Land were up 8.7% versus the same period last year. Meanwhile, pending sales in November 2016 were up by double digits at 11.9% versus November 2015. Clearly, the fall selling season maintained its intensity through November. The average percent of original list price that sellers received for their homes held steady at 96.9%, showing minimal negotiating room for Indian Land homes.
The Indian Land area's months supply of homes in November decreased 11.8% to 3.0 months versus one year ago--indicating a seller's in Indian Land, South Carolina. New listings were up 10.2%, which will hopefully begin to relieve some of the pressure of inventory shortage in Indian Land, especially in the under $250,000 price point.
Indian Land Area Local Market Update - November 2016
Previous Indian Land, SC Housing Market Updates:
October 2016: http://activerain.com/blogsview/4974782/what-happened-in-indian-land--sc-s-housing-market-in-october-2016-
- September 2016: http://activerain.com/blogsview/4958524/what-happened-in-indian-land--sc-s-housing-market-in-september-2016
- August 2016: http://activerain.com/blogsview/4942335/what-happened-in-indian-land--sc-s-housing-market-in-august-2016
July 2016: http://activerain.com/blogsview/4927214/what-happened-in-indian-land--sc-s-housing-market-in-july-2016-
June 2016: http://activerain.com/blogsview/4910383/what-happened-in-indian-land--sc-s-housing-market-in-june-2016-
May 2016: http://activerain.com/blogsview/4896751/what-happened-in-the-indian-land--sc-housing-market-in-may-2016-
April 2016: http://activerain.com/blogsview/4877355/what-happened-in-the-indian-land--sc-housing-market-in-april-2016-
March 2016: http://activerain.com/blogsview/4860243/what-happened-in-the-indian-land--sc-housing-market-in-march-2016-
- February 2016: http://activerain.com/blogsview/4848063/what-happened-in-the-indian-land--sc-housing-market-in-february-2016-
- January 2016: http://activerain.com/blogsview/4826571/what-happened-in-the-indian-land--sc-housing-market-in-january-2016-
This Charlotte, North Carolina real estate monthly update for Indian Land, South Carolina is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
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